Journal Entry for Stationary Purchase

Journal Entry for Stationary Purchase

In this article we would discuss the journal entry for stationary purchase. There are two methods of treating the stationary purchase. Under first method the stationary is directly charged as expense at the time of purchase and other second method stationary purchased is treated as stock.

Journal Entry for Stationary purchase as Expense

In this method the stationary is debit being increase in expense and cash or bank ,as case may be, is credited being decrease in asset.

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Stationary		xxx
01-01-2017	Cash/Bank			xxx

 

Journal Entry for Stationary purchase as Inventory

Under this method the stationary is treated as inventory in first place, therefore stationary is debited as stock and cash, bank or account payable, as case maybe, is credited. Later on the stationary used during the period is charged to expense and stationary stock is reduced.

Journal Entry for Stationary at time of purchase

The first journal entry for stationary purchased under this method shall be recorded as under. The stationary shall be debited as stock and cash or bank , as case may be, shall be credited under the dual aspect of accounting.

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Stationary Stock		xxx
01-01-2017	Cash/Bank			xxx

Journal Entry for Stationary at time of Consumption

The second journal entry under this method shall be recorded by debiting the stationary expense and crediting the stationary stock. This journal entry shall be recorded , when stationary is consumed.

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Stationary Expense		xxx
01-01-2017	Stationary Stock			xxx

Stationary may be purchased by paying cash, by making payment through bank or by paying the bill in future. These entries have been explained below

 

Journal Entry for Stationary purchased in Cash

Stationary purchased shall be debited either expense or stock as explained above and cash shall be credited being decrease in asset.

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Stationary		xxx
01-01-2017	Cash			xxx

 

Journal Entry for Stationary purchased through bank

Journal entry for stationary purchase may be recorded by debiting the stationary as expense or stock as explained above and crediting the bank.

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Stationary		xxx
01-01-2017	Bank			xxx

Journal Entry for Stationary Payable

Journal entry for stationary purchase or purchased on credit shall be recorded by debiting the stationary and crediting the account payable , creditor , or stationary payable.

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Stationary		xxx
01-01-2017	Stationary payable			xxx